Michael Phelps nips Ryan Lochte in 200 free final

They're now even in finals at the U.S. Olympic swimming trials after Phelps nipped Lochte in the 200 free for first place Wednesday night in Omaha.

Phelps touched in 1:45.70, just .05 seconds faster than Lochte. Both qualified for the Olympic team in their second event.

Ricky Berens finished third in 1:46.56.

Lochte said after the race that he saved too much for the end. "I was just not trying, and then the last 75 it was like, all right, I've got to put it in gear, and by that time it was a little late," he said. "I know what I did wrong; I just waited too long, instead of going out faster. But I have another month to make sure I get that race down."

On Monday night, Lochte beat Phelps in the 400 individual medley.

The two are expected to go head-to-head again Saturday night in the 200 IM final. Neither would say the events they're planning to race the rest of the week.

In the women's 100 back Wednesday, 17-year-old Missy Franklin qualified for her first Olympic team, blazing to an American record 58.85. Rachel Bootsma, 18, claimed the second spot, leaving Natalie Coughlin in third place in her signature event. Only the top two advance to the Olympics.

Matt Grevers made his second Olympic team, winning the men's 100 back with Nick Thoman coming in second.

Texas A&M sophomore Breeja Larson claimed her spot in the 100 breaststroke, winning in 1:05.92. Rebecca Soni was second, dashing Jessica Hardy's hopes for an Olympic berth in the event.

About 50 minutes after his 200 free victory, Phelps finished third in his 200 fly semifinal to qualify for Thursday night's final. Bobby Bollier and Davis Tarwater went 1-2 ahead of Phelps.

Earlier: Nothing sells like a good old-fashioned rivalry (even if the two are awfully chummy) and this one has shelf life. The U.S. Olympic swimming trials continue through Monday.

Update 12:25 p.m.: Phelps qualifies for 200 fly semis tonight. He ties for the third-fastest time with Thomas Luchsinger in 1:57.75. Tyler Clary, who missed his shot to make the Olympic team by coming in third behind Phelps and Lochte in the 400 IM, had the second fastest time in the 200 fly today (1:57.23), a half-second behind leader Bobby Bollier.

Update 11:32 a.m.: Dana Vollmer, who won the women's 100 fly Tuesday night, was back on top in today's 200 free prelims. She has the fastest time so far of 1:58.34, just .28 seconds ahead of 17-year-old Missy Franklin.

(Snarky aside: Will the two be invited to sign the silly red phone booth at the end of their NBC interview? What's the point, Andrea Kremer?)

Other storylines to follow today:

Tonight in the women's 100 back, Natalie Coughlin tries to secure a spot on Team USA in her signature event (she won gold in 2008 and 2004). Coughlin, who has 11 Olympic medals, goes in as the seventh seed with a gaggle of teens to contend with: Franklin, Rachel Bootsma (age 18), Olivia Smoliga (17) and Elizabeth Pelton (18).

You might see some tears, Jessica Hardy warns, if she secures her spot on the Olympic team in the 100 breaststroke. After serving a doping ban, Hardy says she's grateful for a second chance. She is the world recordholder in the event and goes into tonight's race as the No. 2 seed behind Rebecca Soni.

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About Reid and Mike

Reid Cherner has been with USA TODAY since 1982 and written Game On! since March 2008.

He has covered everything from high schools to horse racing to the college and the pros. The only thing he likes more than his own voice is the sound of readers telling him when he's right and wrong.

Michael Hiestand has covered sports media and marketing for USA TODAY, tackling the sports biz ranging from what's behind mega-events such as the Olympics and Super Bowl to the sometimes-hidden numbers behind the sports world's bottom line.